Sony has announced today that the PlayStation 4 will cost $399 in North America.

In other regions, the PlayStation 4 will cost €399 in Europe and £349 in the UK.

The PlayStation 4 will retail for $100 less than Microsoft's Xbox One, which will cost $499/€499/£429. The PlayStation 4 will launch this holiday season, but Sony did not date the PlayStation 4. Microsoft's Xbox One will launch in November.

Preorders for the device will likely begin imminently at major retailers.

Elsewhere in Sony's E3 2013 press conference, Sony confirmed that the PlayStation 4 would not require an online check-in, would support used games, and unveiled the first look at the hardware.

Sony has confirmed that the PlayStation 4 will not require an online-check in, and that Sony will impose no restrictions on trading in disc-based games.

Speaking during Sony's E3 2013 press conference, SCEA president Jack Tretton added that that disc-based PlayStation 4 games will be able to be traded in at retail, sold to another person, lent to friends, or just kept forever.

The news positions Sony's PlayStation 4 in direct opposition to Microsoft's Xbox One, which requires a 24-hour check-in for all games and will restrict the sale of used games to selected retailers.

"I guess that's a good thing," said Tretton.

Following the announcement, Sony released a video to YouTube called the "Official PlayStation Used Game Instructional Video"

More to follow.

The PlayStation 4 has a 500GB hard drive--the same size as the Xbox One--Sony confirmed as part of a recently released fact sheet regarding the next-generation platform.

In addition, PlayStation Eye cameras will not be included with PS4 systems. Instead, they will be available as peripherals for $60 each.

Additional DualShock 4 controllers will sell for $60.

By comparison, the Kinect 2.0 is included with every Xbox One and has been described as an integral component of Microsoft's next-generation machine.

The PS4 will launch this year at $400, while the Xbox One will be available for $500.

The PlayStation 4 design Sony unveiled this evening is not final, but it's close, according to Sony Worldwide Studios president Shuhei Yoshida.

"It's almost final," Yoshida said, noting there are "some subtle things" that could change before the next-generation system launches later this year.

In addition, Sony confirmed that the plastic piece that holds the system upright when positioned vertically will be sold as a separate peripheral. Pricing was not divulged.

Sony's highly touted cloud-gaming service will launch in 2014, meaning it will miss the PlayStation 4 launch, the company announced this evening during its E3 2013 briefing.

It will be available first on PlayStation 4, before arriving later on PlayStation 3 and PlayStation Vita. The service allows players immediate access to a catalog of "critically acclaimed" games.

The system was described by Sony Computer Entertainment president Andrew House as "fast and responsive." He added that the technology--powered by Gaikai--will evolve rapidly in the coming months, though a specific roadmap or further details were not provided.

The PS4 launches later this year for $399/€399/£349, or $100 less than competitor Microsoft's Xbox One. In addition, the PS4 will play used games and won't require an online check-in.

Gamers must hold a PlayStation Plus subscription to play PlayStation 4 titles online, Sony confirmed with GameSpot this evening.

PlayStation Plus subscriptions are currently offered for $50 per year.

Sony Worldwide Studios president Shuhei Yoshida explained to GameSpot that the requirement is a response to the additional investment the company has had to make on the network side.

This approach is similar to that of Microsoft's Xbox Live Gold membership level, which is the only way to play games online and access other features like Netflix.

The PS4 launches later this year for $399/€399/£349, or $100 less than competitor Microsoft's Xbox One. In addition, the PS4 will play used games and won't require an online check-in.

The current PS Plus memberships gamers hold will carry over to PS4.

Sony Computer Entertainment has announced that the PlayStation 4 will launch in Australia this holiday season for A$549.

The news comes just hours after Microsoft confirmed that the Xbox One will go on sale down under this November for A$599. The PS4 has been priced at USD$399 for North America.

As part of the two-hour long press conference, Sony discussed a slate of software that included Destiny, Watch Dogs, Transistor, Don't Starve, and Final Fantasy Versus XIII, which has been renamed to Final Fantasy XV. Multiplayer gaming will soon require a PlayStation Plus subscription. Sony did confirm that existing Plus accounts will make the transition to the PS4, and said that existing accounts will allow for Cross Buy purchases between the PS3, PS4, and Vita handheld.

Sony used the event to thank its loyal PlayStation fans, specifically those who made contact with the publisher and requested that the company not include the restrictive Digital Rights Management (DRM) system in place on the Xbox One. Microsoft's system requires consoles to authenticate with Xbox servers once per day. Sony publicised the fact that the PlayStation 4 will not require a check-in system, and will allow players to trade-in games through retailers, sell them directly to friends, or loan discs out without charging consumers an additional fee to play it on another device.

Missed the Sony press conference? Watch the full replay here.

Publisher Warner Bros. Interactive Entertainment announced that it will release a game based on the Mad Max film franchise for the PS4, Xbox One, and PC.

The post-apocalyptic world setting will never go out of style.

The game, called Mad Max, will be an open world third-person action game set in a post-apocalyptic world. The title's focus is on car combat; players will need to fight against enemies of the wasteland to eventually build up their vehicles for combat.

Mad Max is being developed by Avalanche Studios, the team behind the Just Cause open world action game series. While the news of the Mad Max game was first announced at Sony's E3 2013 press conference recently, Warner Bros. confirmed later that the game is a multi-platform title.

Tonight during Sony's E3 2013 briefing, the company announced DriveClub PlayStation Plus Edition.

The game, described by SCEA president Jack Tretton as a "huge AAA title," will be available to PlayStation Plus subscribers when the PlayStation 4 launches later this year.

In addition, Sony confirmed more details concerning PS Plus for PS4. Tretton explained that new titles will be available for subscribers every month, including Don't Starve, Outlast, and Secret Ponchos.

Tretton also confirmed that the PS Plus memberships PlayStation 3 subscribers already have will work on PS4. In a similar fashion, Xbox Live memberships for Xbox 360 will carry over to Xbox One.

Massively multiplayer online role-playing game The Elder Scrolls Online is coming to the PlayStation 4.

Sony announced a partnership with Bethesda this evening that will bring the game to PS4 in spring 2014.

A beta will be made available for the game, a Sony representative confirmed. However, no details were divulged on when it may arrive.

The PC version of The Elder Scrolls Online is due to launch later this year.

Tonight during Sony's 2013 Electronic Entertainment Expo briefing, Square Enix announced Final Fantasy XV for the PlayStation 4.

In addition, Square Enix promises more details about the game that will be revealed in the next few days.

Square Enix is holding an event tomorrow evening to reveal "the future of Final Fantasy."

Square Enix has announced Kingdom Hearts 3.

Unveiled during Sony's E3 2013 press conference, the game's announcement trailer showed protagonist picking up one of the series' keyblades. Sony has confirmed the game will be released for PlayStation 4.

Kingdom Hearts was released for PlayStation 2 in 2002, with its sequel Kingdom Hearts II being released in 2006. The series has also seen numerous spin-offs released in subsequent years.

Sony Pictures CEO Michael Lynton announced tonight that the company is bringing a brand-new and original programming plan to the PlayStation 4.

He explained that this content has been tailored and selected specifically for gamers, though he did not reveal any details concerning what the content may be.

More details will be announced soon, he said.

Sony has revealed the highly-anticipated first look at the PlayStation 4 hardware.

Speaking during Sony's E3 2013 press conference, Sony executive Andrew House showed off the hardware for the first time. The angular hardware design was first teased by Sony last month.

More to follow.

Sony has announced an exclusive hardware bundle for Grand Theft Auto V.

Speaking during Sony's E3 2013 press conference, Sony confirmed that the PS3 bundle would launch for $299 and come with a copy of the game, a GTA V-branded headset, and an exclusive soundscape.

"If gamers want the ultimate GTA V gaming experience, it can only be found on PlayStation," said SCEA president Jack Tretton on the stage.

Grand Theft Auto V will be released on PlayStation 3 and Xbox 360 on September 17.

The next game from God of War PSP developer Ready at Dawn has been revealed as PlayStation 4 action-shooter The Order: 1886.

A trailer for the game was shown during Sony's E3 media briefing tonight. The video was set up by voiceover that teased the following:

"It is a new world for us, for all of us; an age of scientific marvels," a voice said. "And yet, underneath the brass and steel the old struggle endures."

The game is set 40 years after the Industrial Revolution. Gamers play as a knight, a member of an ancient order, and must fight for mankind's survival.

"You will see and navigate real places. You will not only be a witness, but have a hand in real events that have unfolded," reads the game's description.

Sony trademarked The Order: 1886 in April.

PlayStation executive Jack Tretton today revealed that 60 percent of all PlayStation Vita software purchases are made digitally through the PlayStation Store.

The revelation came during Sony's E3 2013 briefing this evening, where Tretton described the PS Vita as "just beginning its life."

Tretton also revealed that the average PS Vita owner has purchased more than 10 games.

In addition, Tretton confirmed that God of War HD 1 and 2, as well as Final Fantasy X and X-2, Flower, and Dead Nation are coming to PS Vita.

Lastly, Tretton spoke about Telltale Games' The Walking Dead, confirming the game will launch on PS Vita this August. A new episode--400 Days--will launch this summer, while a new PS Vita bundle that includes the first season, 400 Days, and "bonus content" will be made available in August.

Ubisoft has announced two new Trials titles at its E3 2013 press conference.

The first, Trials Fusion, will be released for the Xbox One, PlayStation 4, Xbox 360, and PC. It's a continuation of the high-speed, slightly masochistic motorcycle challenges seen in Trials Evolution, with an announcement trailer showing a course weaving around a city floating in the clouds.

Trials Frontier, meanwhile, will be released on mobile devices and features a more cartoony visual style.

Both Fusion and Frontier will be able to interact with one another for bonus features--such as checking Trials Fusion leaderboards from Frontier.

Trials Fusion and Frontier will be released in 2014.

Rainbow Six: Patriots was nowhere to be seen during Ubisoft's 2013 Electronic Entertainment Expo briefing today.

Explaining the game's absence, Ubisoft Montreal CEO Yannis Mallat told a group of media Sunday evening that the game "has a place in the studio," but would not say more.

Rainbow Six: Patriots was announced in 2011 and was originally expected to launch in 2013 for the Xbox 360, PlayStation 3, and PC.

Ubisoft cut top staff at Ubisoft Montreal in March 2012, and months later Ubisoft CEO Yves Guillemot said there was a "good chance" the game had been shifted to next-gen. Most recently, the title was pulled from the GameStop database.

Developed by Ubisoft Montreal with assistance from Ubisoft Toronto and Red Storm, Rainbow 6: Patriots will follow the counterterrorism Team Rainbow squad as it tries to put down a group of American insurgents known as the True Patriots. As players look to suppress the True Patriots' budding revolution, they will be faced with "tough ethical decisions," according to Ubisoft.

Ubisoft CEO Yves Guillemot has spoken out about Microsoft's recent announcement that decisions about secondhand Xbox One sales will be left up to publishers.

"What I like is because they are not taking a fee, it will give us the option to look at what service we have to give if we have to give service," Guillemot said to media recently. "So it's a good thing Microsoft is not taking a fee."

Directly asked if Ubisoft would allow secondhand Xbox One sales, Guillemot said, "We haven't decided yet." He further noted that Ubisoft will wait to disclose its plans until Sony and other publishers have spoken about the matter.

Ultimately, Guillemot said it's "too early to take a real position" on the matter.

At the end of the day, Guillemot explained that the secondhand market can be problematic, but overall is a positive force for the industry.

"Lots of people are buying a game, reselling it, and buying another one. It has a very positive impact on the industry," Guillemot said. "Because it [gives] the customer the possibility to buy many games. It gives them a chance to play more games. I think it has been good for the industry; what we have to make sure is that there's not too much money lost in between so there's good efficiency there."

GameSpot contacted major publishers including Activision Blizzard, Electronic Arts, Capcom, Bethesda, Warner Bros., Take-Two, Ubisoft, and Konami about their stance on Xbox One used games and did not receive a definitive stance from any company.